Employer’s Costs for Grant/Contract Funded Positions Fiscal Year 2007-2008

Kyle J. Cavanaugh, Senior Vice President for Administration

The Office of Human Resource Services has prepared a list of employer costs for benefits and retirement as well as federal and state mandated charges that are incurred with all payroll activities.

• SALARIED POSITIONS—Employer (Grant) costs of REQUIRED benefits:

	FRS (regular class)	ORP	DROP
Retirement	9.85%	10.43%	10.91%
OASDI and Medicare Tax	7.65%	7.65%	7.65%
Workers’ Compensation	.98%	.98%	.98%
Unemployment Compensation	.12%	.12%	.12%
Total Employer Cost	18.60%	19.18%	19.66%

• SALARIED POSITIONS—Employer (Grant) costs of employee option benefits:
State Employees’ Group HEALTH Plan

Now through the pay period ending May 15, 2008

Coverage	Monthly	Annually
Individual	$377.86	$4,534.32
Family	$787.60	$9,451.20
Spouse Plan	$483.80	$5,805.60

Effective beginning the pay period May 16, 2008

Coverage	Monthly	Annually
Individual	$399.26	$4,791.12
Family	$835.98	$10,031.76
Spouse Plan	$507.99	$6,095.88

State of Florida Group TERM LIFE INSURANCE
EMPLOYER COST: Approximately .22% of the employee’s salary from now until pay period ending 12/13/2007. Effective beginning the pay period 12/14/2007 the employer’s cost will increase to approximately .31% of the employee’s salary.

•POST DOCTORAL ASSOCIATES – FICA ALTERNATIVE

OASDI and Medicare Tax	1.45%
Workers’ Compensation	.98%
Unemployment Compensation	.12%
Total Employer Cost:	2.55% plus employee option for State Employees’ Group HEALTH Plan and State Term LIFE employer cost (see rates above).

• GRADUATE ASSISTANTS

• Graduate assistants on appointments are eligible for a SUBSIDIZED HEALTH INSURANCE BENEFIT.

Fall semester 2007 – $589

Spring semester 2008 – $585

summer semester 2008 – $396

• Tuition remission for CONTINUING graduate assistants:

Fall 2006 new graduate students on assistantships for 9 hours is $2,403.81 for fall 2007 and spring 2008

Fall 2005 new graduate students on assistantships for 9 hours is $2,294.46 for fall 2007 and spring 2008

Prior to fall 2005 graduate students on assistantships for 9 hours is $2,094.93 for fall 2007 and spring 2008

• Tuition remission for new graduate assistants:

Fall 2007 new graduate students on assistantships for 9 hours is $2,403.81 for fall 2006 and spring 2007

• WORKER’S COMPENSATION charges of .98% also apply

• NON-STUUDENT OPS – FICA ALTERNATIVE —Employer (Grant) cost of REQUIRED benefits:

• Implementation of the new FICA Alternative Plan in January of 2006 resulted in a change to the employer costs for fringe benefits that will be charged to contract and grant projects in funds 201, 209, 211, 214, 221 and 222 (with the exception of house staff wages charged to projects in Fund 209).

Medicare	1.45%
Workers’ Compensation	.98%
Unemployment Compensation	.12%
Total employer cost	2.55%

• NON-STUDENT OPS—Employer (Grant) cost of REQUIRED benefits:

OASDI and Medicare Tax	7.65%
Worker’s Compensation	.98%
Unemployment Compensation	.12%
Total employer cost	8.75%

• STUDENT OPS EMPLOYEES are covered by WORKER’S COMPENSATION. Charges of .98% will be assessed to Operating Expense accounts at regular intervals by Contracts & Grants Accounting Services.